

[Federal Register: October 18, 2005 (Volume 70, Number 200)]
[Notices]               
[Page 60575]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr18oc05-122]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.

Extension:
    Regulation BTR; OMB Control No. 3235-0579; SEC File No. 270-521.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the collection of 
information summarized below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    Regulation Blackout Trade Restriction (``Regulation BTR'') 
clarifies the scope and application of Section 306(a) of the Sarbanes-
Oxley Act of 2002 (``Act''). Section 306(a)(6) of the Act requires an 
issuer to provide timely notice to its directors and executive officers 
and to the Commission of the imposition of a blackout period that would 
trigger the statutory trading prohibition of Section 306(a)(1). 
Approximately 1,230 issuers file Regulation BTR notices annually. We 
estimate that it takes 2 hours per response for an issuer to draft a 
notice to directors and executive officers for a total annual burden of 
2,460 hours. The issuer prepares 75% of the 2,460 annual burden hours 
for a total reporting burden of (1,230 x 2 x .75) 1,845 hours. In 
addition, we estimate that an issuer distributes a notice to five 
directors and executive officers at an estimated 5 minutes per notice 
(1,230 blackout period x 5 notices x 5 minutes) for a total reporting 
burden of 512 hours. The combined annual reporting burden is (1,845 
hours + 512 hours) 2,357 hours.
    Written comments are invited on: (a) Whether this collection of 
information is necessary for the proper performance of the functions of 
the agency, including whether the information will have practical 
utility; (b) the accuracy of the agency's estimate of the burden of the 
collections of information; (c) ways to enhance the quality, utility, 
and clarity of the information collected; and (d) ways to minimize the 
burden of the collection of information on respondents, including 
through the use of automated collection techniques or other forms of 
information technology. Consideration will be given to comments and 
suggestions submitted in writing within 60 days of this publication.
    Please direct your written comments to R. Corey Booth, Director/
Chief Information Officer, Office of Information Technology, Securities 
and Exchange Commission, 100 F Street, NE., Washington, DC 20549.

    Dated: October 7, 2005.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. E5-5722 Filed 10-17-05; 8:45 am]

BILLING CODE 8010-01-P
